Cure for oil price volatility found

Despite an unfolding global financial crisis, quarterly earnings reports issued the last two weeks make it clear the major oil companies have the wherewithal to continue developing global petroleum resources. It’s a different story for small and midsize companies, for whom challenges related to the freeze in credit markets are wreaking greater havoc than is the depressed price of oil and gas.Of course, the two — credit freeze and oil price — aren’t unrelated. Yet it may seem a bit unclear to many how “irrational exuberance” in the issuance of...